Market Flash: iSHARES MSCI Indonesia Investable Market Index Fund (EIDO:US) PRICE: 28.530 USD Down -0.360 (-1.246%) >>> BI: Rupiah Melemah Akibat Kondisi Eropa >>> Pertemuan FED pertimbangkan langkah baru dorong ekonomi >>> KIJA akan Terbitkan MEN Valas USD150 Juta >>> PT Indika Energy Perusahaan Teladan Dunia 2011 >>> Govt Promises Revision of Cost Recovery Regulation >>> BPMigas Demands PGN to Pay US$6 per MMBTU >>> Jababeka to Raise US$150 Million from Debt Markets >>> SCG Chemicals buys Chandra Asri >>> Solusi Tunas eyes Rp380 bio IPO >>> SMR Utama scouts Rp300 bio IPO >>> Alam Sutera picks two bond arrangers >>> ASII Tetap Rajai Penjualan Mobil Agustus 2011 >>> Perusahaan Thailand kuasai Saham TPIA senilai Rp 3,76 Triliun >>> Agis Main ke Tambang, Sahamnya Masuk Dalam Pengawasan >>> ACES Mendekati The Northern Agar Mau Kurangi Kepemilikan >>> IHSG masih harus berjuang terus bertahan diatas MA200 >>> Melirik Peluang Akumulasi di Saham Perbankan >>> Analisa Saham BUMI: Kuat Bertahan & Berpeluang Kembali Uptrend >>> Analisa Saham JSMR: Bertahan Di Support, What Next? >>> INDF Tertahan Di Area Support Kuat, Berpeluang Rebound >>> ASII Break Minor Support, Sell on Strength >>> ADRO Membentuk Descending Wedges, Berpeluang Rebound Terbatas >>> Wall Street ends flat as early gains evaporate >>> Fed begins policy meeting, tiptoes toward easing >>> Fed meeting to help decide on long-term Treasuries >>> Greece Makes 'Good Progress' in Reform Talks: EC >>> China worried Europe debt crisis will hit trade >>> China could roll out 4.65tr yuan stimulus package >>> IMF sees Mideast stagnation >>> NYMEX-Crude ends higher at Oct contract expiry >>> Asian Crude Palm Oil Up On Technical Buying, Soyoil >>> Foreign net Sell - 61.785.746

Rabu, 27 Juli 2011

Bakrieland Dev (ELTY IJ), starts monetizing its giant landbank - CLSA

Dewi from research team wrote an update on Bakrieland (ELTY IJ). It seems like the worst is behind us. The company has deleveraged. The balance sheet is clean. ELTY sits on 12,000 ha of land and still trades at 20% discount to BV (64% discount to its NAV).

Monetizing assets will be the key to improve ROA and price performance. And the company is starting this process. Our note today highlight the launch of ELTY’s key 12,000 ha Jonggol project. Successful launching will be an important catalyst for ELTY.

ELTY’s “Sentul Nirwana Residence” project in Jonggol was just recently launched, selling at Rp2.5-6mn psm (we think price is high for property in the area, unheard of before). 50 of 400 houses have been sold.
1H11 results are also very strong with 1H11 revenue came at 62% of our FY11CL forecast. Maintain BUY for 36% upside to our Rp225 target price, now trading at 64% discount to NAV.

Tidak ada komentar:

Posting Komentar